How Asia Pacific Hotels have performed in April 2020
STR: How Asia Pacific hotels have performed in April 2020
SINGAPORE— Reflecting the effects of the COVID-19 pandemic, the Asia Pacific hotel industry reported record lows in the three key performance metrics during April 2020, according to data from STR.
U.S. dollar constant currency, April 2020 vs. April 2019
- Occupancy: -60.3% to 28.0%
- Average daily rate (ADR): -44.8% to US$54.97
- Revenue per available room (RevPAR): -78.1% to US$15.38
The absolute levels in each of the three KPIs were the lowest for any month on record in the region.
Local currency, April 2020 vs. April 2019
South Korea
- Occupancy: -70.8% to 20.0%
- ADR: -21.0% to KRW112,897.83
- RevPAR: -76.9% to KRW22,536.18
Each of the three key performance metrics were up from March but remained the lowest for any April on record in the country. Incheon & Seoul experienced a 75.2% year-over-year decrease in occupancy (to 18.8%).
Australia
- Occupancy: -72.7% to 19.9%
- ADR: -33.1% to AUD119.87
- RevPAR: -81.7% to AUD23.85
The absolute occupancy, ADR and RevPAR levels were the lowest for any month in STR’s Australia database. Among key markets, Melbourne and Sydney saw year-over-year occupancy declines of 65.0% and 73.7%, respectively. Returning travelers are predominantly keeping occupancy up, as seen in Adelaide, where year-over-year occupancy declines eased slightly during April up to 13 May due to returning travelers from India.
- Hotel Industry Performance in Asia Pacific: A Gradual Improvement, but Lagging Occupancy RatesThe hotel industry performance in the Asia Pacific region is seeing a gradual improvement in its performance, with the average
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Further, STR data analysis suggest that industry can see some lights end of the tunnel.
![](http://travleaks.com/wp-content/uploads/2020/06/lights-end-of-the-tunnel-819x1024.jpeg)
More information can be found in STR’s Pacific webinar recording.
Key takeaway from the above webinar
China Well underway domestically
- Occupancy growth trend continues – Now about continuing and managing the second wave.
- Driven by domestic demand of both leisure (first) then business.
Recovery cannot be rushed – Q2-Q3 hopeful, and domestic remain key driver
- Vietnam opening up, Australia and New Zealand combining forces
- US reopening
Recovery will vary – and rely on air capacity more in APAC
- So far small amounts of business on the books
- Airlines will in short to medium time frame not all have same capacity
Financial distress
- Banks, lessors and landlords are in for some serious conversations
- Without and explanation – your outlook will be very challenged
![How Asia Pacific Hotels have performed Occupancy](http://travleaks.com/wp-content/uploads/2020/06/Occupancy-1024x571.png)
Additional COVID-19 analysis
A weekly video on China performance can be found here.
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